What are secured loans?
A secured loan is a loan where you will be required to use your property as security
against the loan, so the lender is able to balance the risk of lending to you. The
amount that can be borrowed differs from lender to lender and your individual circumstances.
(For example this could be no accounts available for self employed, previous bad credit or even mortgage arrears.)
The amount that can be borrowed, the term available and the Annual Percentage Rate
(APR) will depend on the value of your property, your ability to pay and your personal
circumstances.
You need to think carefully about how you manage a secured loan. If you default
on the payment, you risk losing your home.
Why go secured?
The advantage of a secured loan is that the lenders risk is reduced which enables
them to charge a reduced rate of interest or accept a longer repayment period. In
either instance it usually means you are required to make lower regular loan repayments.
Shropshire based secured loans, offering secured loans in Telford, Shrewsbury, Oswestry and the rest of Shropshire.
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